Index move boost for AIB

AIB shares rose to their highest level in six years yesterday after the bank was admitted to a prestigious European share index.

The move is expected to fuel greater demand for AIB shares among institutional investors that track the Dow Jones Eurostoxx 50 index, which contains the eurozone’s top 50 companies.

The Stoxx committee confirmed earlier this week that AIB had qualified for the index and would take the place of Italian mobile telecom company TIM, which has been taken over by fixed-line giant Telecom Italia, with effect from June 30.